An act to amend 1967 PA 281, entitled “An act to meet deficiencies in state funds by providing for the imposition, levy, computation, collection, assessment, reporting, payment, and enforcement by lien and otherwise of taxes on or measured by net income and on certain commercial, business, and financial activities; to prescribe the manner and time of making reports and paying the taxes, and the functions of public officers and others as to the taxes; to permit the inspection of the records of taxpayers; to provide for interest and penalties on unpaid taxes; to provide exemptions, credits, rebates, and refunds of the taxes; to create certain funds; to provide for the expenditure of certain funds; to impose certain duties and requirements on certain officials, departments, and authorities of this state; to prescribe penalties for the violation of this act; to provide an appropriation; and to repeal acts and parts of acts,” by amending section 527a (MCL 206.527a), as amended by 2022 PA 266.
House Bill 4543 would amend the Income Tax Act to change the inflation index used to adjust certain limits on eligibility for the Home Heating Credit. The Home Heating Credit is an income tax credit to assist low-income homeowners and renters with heating expenses. Eligibility for the credit and maximum credit amount depend on the number of income tax exemptions claimed by the taxpayer (i.e., the size of the household) and the total household resources.1 Under the act, the household resource cap and total heating costs that can be reimbursed by the credit (standard allowance) are adjusted annually using the all urban Detroit Consumer Price Index (CPI) for fuels and other utilities, for maximum heating costs, and the Detroit CPI for all items, for the household resources, for the previous calendar year ending August 31.
Co-sponsored by Reps.
Referred to the Committee on Economic Competitiveness
Discharged from committee
1. Amend page 15, following line 13, by inserting:
“Enacting section 1. This amendatory act does not take effect unless House Resolution No. 142 of the 103rd Legislature is adopted.”.
The amendment failed by voice vote
Passed in the House 88 to 14 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Referred to the Committee on Energy and Environment
Discharged from committee
Referred to the Committee of the Whole
Reported without amendment
Passed in the Senate 31 to 4 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
